How are Your Co-Signers Affected When You File for Bankruptcy? скачать в хорошем качестве

How are Your Co-Signers Affected When You File for Bankruptcy?

If you have co-signed debt, you have to include that debt and give notice to creditors in both #chapter7 and Chapter 13 bankruptcy. Your debt is "co-signed" if someone else is also responisible to pay your debt. For example, if you bought a car or took out a furniture loan, but your credit was poor at the time, the lender may have required a co-signer such as a parent, sibling or friend. If you don't take actions to "protect" your co-debtor, your #bankruptcy filing will protect you from collection actions and eventually discharge the debt as to you, but your co-signer will be left to face the consequences of unpaid debt. As I discuss in this video there are steps you can take to protect your co-debtor in both Chapter 7 and Chapter 13. You can agree to take full responsibility for co-signed debt and pay these accounts (and forego the protection and relief that bankruptcy offers). Obviously if you protect your co-signers, you will incur increased financial obligations. Further, because your bankruptcy filing stops all creditor activity, it is very likely that your co-debtor's credit will be negatively impacted even if you end up paying the co-signed debt in full. You would be wise to discuss all of the implications of including co-signed debt in your bankruptcy with your lawyer. Your choices will impact both you and your co-signers financially and in terms of their credit score, and may impact family and personal relationships as well. If you have co-signed debt but need to file #atlantabankruptcy attorneys Jonathan Ginsberg or Susan Blum can advise you about the legal and financial implications. We're here to help you whenever you are ready ===========FREE CASE EVALUATION========== If you would like me to analyze your finances please contact me at https://atlanta-bankruptcy-attorney.c... ========================================== ===============CONTACT ME================= Jonathan Ginsberg Atlanta Bankruptcy Attorney Website: https://atlanta-bankruptcy-attorney.com/ Facebook:   / ginsberglaw   Telephone: 770-393-4985 https://atlanta-bankruptcy-attorney.c... =========================================== **Click Below to SUBSCRIBE for More Videos: http://www.youtube.com/subscription_c...